A new research document with title 'Bio-Plastic Packaging - Global Market Outlook (2016-2022)' covering detailed analysis, Competitive landscape, forecast and strategies. The study covers geographic analysis that includes regions like North America, Europe, Asia Pacific, ROW and important players/vendors such as Innovia Films Limited, Green Dot Holdings LLC, Evonik Industries AG. The report will help user gain market insights, future trends and growth prospects for forecast period of 2016-2022.

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SummaryAccording to Research, the Global Bio-Plastic Packaging Market is valued at $6142 million in 2015 and is expected to reach $25368.7 million by 2022 growing at a CAGR of 32.7% from 2015 to 2022. Textile industry is anticipated to get profitable impact for bio-plastic market with the increasing environmental awareness among the global population. Bio-plastic packaging is a highly intensive market witnessing more than 50% of biodegradable plastics market demand. Global market is anticipated to witness growth owing to increasing customer attentiveness to ecological products.

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Shifting partiality from artificial chemical products to environmental substitutes is expected to boost the Bio-plastic packaging market growth. Huge complications involved in the production through agro-based raw materials are anticipated to be a challenging factor for market in the near future. Increasing adoption of bio-based PET in packaging due to rising R&D expenditure by beverage manufacturers is probably to exploit new markets over the forecast period.

The factors restricting the market growth include high cost of production as bio-plastic is not easily recyclable, lack of commercial conversion technology of agro based material to bio-plastic, and limited use of bio-plastic for the packaging attributed to the premium pricing of the bio-plastic. Europe commanded the global market in 2014 followed by North America and Asia-Pacific. Several European countries have adopted bio-plastic packaging, driving the regional market. However, Asia Pacific is the fastest growing region in the market and is anticipated to grow at a highest rate over the forecast period. Asia Pacific is commanding the global market in terms of production. With the constant rise in awareness about the environment and pollution and greater emphasis on sustainability, the governments of several Asia Pacific nations are focusing on the recycling of plastic products, which has boosted the growth prospects for the market in this region. The packaging and food services segment is anticipated become the commanding shareholder in the global market over the forecast period.

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